Homework Answers
5.
Unemployment rate = 0.3364*wage + 0.8455
A.
For a minimum wage of $10.
Predicted unemployment rate = 0.3364*10 + 0.8455
Predicted unemployment rate = 4.21%
Actual unemployment rate in Colorado = 3%
So, predicted unemployment rate in Colorado is overstated by 1.21%
B.
For a minimum wage of $15.
Predicted unemployment rate = 0.3364*15 + 0.8455 = 5.89%
Change in predicted unemployment rate = 5.89%-4.21% = 1.68%
C.
| State | 2018 Minimum wage ($) | Unemployment rate % | Predicted unemployment rate (%) | Prediction error |
| Alabama | 7 | 4 | 3.20 | 0.80 |
| Arizona | 11 | 5 | 4.55 | 0.45 |
| Arkansas | 8 | 3 | 3.54 | -0.54 |
| California | 11 | 4 | 4.55 | -0.55 |
| Colorado | 10 | 3 | 4.21 | -1.21 |
| Connecticut | 10 | 4 | 4.21 | -0.21 |
| Delaware | 8 | 4 | 3.54 | 0.46 |
| DC | 13 | 6 | 5.22 | 0.78 |
D.
R Square = 45.26%
The minimum wage can only explain 45.26% of the change in unemployment rate.
Add Answer to:
5. Use the unemployment and minimum wage data above to answer this question. a) What is...
ys 70 eoni idence interval for μο 4. The following table contains the minimum wage and...
ys 70 eoni idence interval for μο 4. The following table contains the minimum wage and unemployment rates for a sample of eight states. State 2018 Unemployment | Minimum | Rate (96) Wage Alabama Arizona Arkansas S7 $11 $8 California $11 4 Colorado $10 Connecticut $10 $8 $13 Delaware DC 4 Graph unemployment and minimum wage, with unemployment on the vertical axis. Draw a line that best fits the points and label the intercept and slope. You can use your...
C) Estimate the linear model for a state's unemployment rate shown below (i.e. estimate Bo and β1...
Only question 6 please, this is the model referred to in
Question 6 from 5.c
c) Estimate the linear model for a state's unemployment rate shown below (i.e. estimate Bo and β1) using OLS. Write the resulting regression equation. unemployment rate-β0 + β|minimum wage + ε 6. The following questions ask you to use the regression model you estimated to predict unemployment rates (ie, the model in 5.c). Use the unemployment and minimum wage data from the table above to...
What trends do you notice in your data set? Based on the trends and the history...
What trends do you notice in your data set? Based on the trends and the history of your data set, make a claim. What kind of test (left, right, two tailed) would you have to complete? Explain the steps needed to complete the Hypothesis Test. What is needed? data drunk driving deaths by state from 2003-2012 Alabama 3,190 Alaska 222 Arizona 2,912 Arkansas 1,769 California 10,327 Colorado 1,702 Connecticut 1,039 Delaware 427 District of Columbia 124 Florida 8,476 Georgia 3,699...
IF THERE IS WORK PLEASE SHOW HOW YOU GO THE ANSWER! The table below presents a...
IF THERE IS WORK PLEASE SHOW HOW YOU GO THE ANSWER! The table below presents a sample of data from our StateCrime dataset. State Unemployment Rate Violent Crime Rate Alabama 9.75 9.3 Arizona 8.58 8.9 Arkansas 20.7 7.7 Connecticut 7.77 8.8 Delaware 20.63 7.7 Illinois 41.27 9.1 Kentucky 9.98 8.4 Louisiana 18.13 8.1 Massachusetts 11.04 7.6 Michigan 15.02 9.8 Mississippi 31.16 10.3 Missouri 22.61 7.5 Ohio 14.51 8.2 Oregon 9.86 9.3 Pennsylvania 5.54 7.9 Rhode Island 10.38 8.5 South Carolina...
Rate 3% 12% 14% 8% 9% 596 State Rate State 1090 | Kansas 11% Kentucky 13%...
Rate 3% 12% 14% 8% 9% 596 State Rate State 1090 | Kansas 11% Kentucky 13% Louisiana 1296 | Maine 8% Maryland 690 590 | Michigan 890 | Minnesota 996 | Mississippi 1196 | Missouri 1390 | Montana 1090 | Nebraska 996 | Nevada 996| New Hampshire 590 796 | New Jersey 1290 | South Dakota 996 | Tennessee Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa New Mexico New York North Carolina...
The data contained in the file named StateUnemp show the unemployment rate in March 2011 and...
The data contained in the file named StateUnemp show the unemployment rate in March 2011 and the unemployment rate in March 2012 for every state.† State Unemploy- ment Rate March 2011 Unemploy- ment Rate March 2012 Alabama 9.3 7.3 Alaska 7.6 7.0 Arizona 9.6 8.6 Arkansas 8.0 7.4 California 11.9 11.0 Colorado 8.5 7.8 Connecticut 9.1 7.7 Delaware 7.3 6.9 Florida 10.7 ...
C++ how can I input this data correctly? State, Coal, Natural Gas, Fuel Oil, Jet Fuel,HGL...
C++ how can I input this data correctly? State, Coal, Natural Gas, Fuel Oil, Jet Fuel,HGL Other, Motor Gasoline, Residual Fuel Oil, Nuclear Electric Power, Hydroelectric Power, Wood and Waste, Fuel Ethanol, Geothermal, Solar, Wind Alabama,410.20,715.70,169.40,18.00,44.90,309.10,11.90,417.30,64.50,167.40,23.70,0.10,0.40,0.00 Alaska,16.60,330.90,64.40,104.80,28.60,35.20,0.00,0.00,15.30,2.30,0.00,0.20,0.05,1.60 Arizona,323.90,371.50,149.10,24.90,33.90,324.30,0.00,338.60,66.20,6.60,24.70,0.30,52.80,5.00 Arkansas,246.40,315.70,113.60,8.50,36.40,170.10,0.05,140.40,33.00,77.90,13.00,0.80,0.40,0.00 California,32.10,2248.40,560.40,672.60,383.00,1714.40,145.80,197.80,267.20,137.00,131.30,107.90,267.10,124.70 Colorado,321.50,501.10,103.90,52.50,50.20,263.80,0.00,0.00,17.60,10.60,20.20,0.80,9.50,87.00 Connecticut,2.30,254.70,94.90,9.50,25.10,168.30,0.80,173.40,2.10,25.20,12.90,0.05,4.10,0.10 Delaware,8.20,113.60,14.30,0.70,32.80,54.30,1.10,0.00,0.00,1.80,4.20,0.40,1.10,0.05 DC,0.05,30.10,2.80,0.00,3.45,13.30,0.00,0.00,0.00,0.80,1.00,0.05,0.30,0.00 Florida,426.20,1414.10,312.10,155.40,86.30,1008.80,59.10,306.70,1.60,182.50,69.80,10.10,30.20,0.00 Georgia,399.30,728.00,226.50,29.30,58.40,540.30,8.50,360.60,31.10,214.20,37.40,0.30,10.20,0.00 Hawaii,16.40,0.20,26.20,74.30,20.90,52.80,60.90,0.00,0.80,8.50,4.00,2.40,9.80,5.90 Idaho,2.40,110.30,70.90,5.50,13.20,88.20,0.05,0.00,83.40,22.70,6.70,2.20,0.40,23.80 Illinois,702.50,1045.20,297.30,161.00,241.50,544.70,0.60,1031.30,1.20,24.30,40.30,2.00,2.00,98.40 Indiana,948.40,780.10,235.00,50.20,121.10,357.50,1.70,0.00,3.90,30.40,25.20,4.60,2.40,45.20 Iowa,298.00,317.20,150.10,5.50,84.90,192.10,0.05,49.20,8.50,20.10,16.30,1.30,0.60,185.30 Kansas,253.10,278.10,119.50,8.70,59.80,154.20,3.60,86.20,0.30,6.30,10.70,1.00,0.10,130.30 Kentucky,736.60,284.10,156.20,68.00,123.70,250.80,0.05,0.00,32.10,35.20,17.80,2.70,0.40,0.00 Louisiana,140.50,1697.40,192.20,166.10,1253.90,254.50,37.70,179.40,10.20,136.30,19.50,1.80,1.80,0.00 Maine,2.20,54.50,70.70,6.50,20.30,89.60,3.80,0.00,27.70,90.60,6.60,0.10,0.40,15.40 Maryland,162.90,229.60,98.50,8.80,33.70,306.50,0.70,154.40,12.90,26.00,23.20,0.60,6.80,4.90 Massachusetts,20.10,442.70,144.60,60.90,33.90,315.10,4.70,56.60,6.60,37.40,24.10,0.90,17.50,2.00 Michigan,471.20,927.50,171.70,22.80,119.00,536.90,3.20,330.00,14.40,92.90,37.30,5.20,1.10,43.40 Minnesota,261.20,466.50,160.30,27.30,113.60,296.10,0.80,145.00,11.20,72.50,27.60,1.10,0.60,91.70 Mississippi,61.20,563.40,122.00,97.20,63.00,196.10,3.60,61.70,0.00,56.30,15.00,1.00,0.10,0.00 Missouri,639.90,273.60,188.10,16.60,57.00,362.70,0.10,98.60,11.70,26.40,26.10,0.40,1.90,10.40 Montana,161.90,77.60,50.20,5.40,50.80,61.00,0.00,0.00,93.10,4.40,4.70,0.30,0.10,19.80 Nebraska,240.50,172.90,111.40,7.50,17.70,102.20,0.00,97.80,7.90,4.10,7.10,1.20,0.10,35.10 Nevada,30.80,316.00,64.30,35.00,14.10,131.80,0.00,0.00,16.50,2.50,10.00,32.50,33.30,3.20 New Hampshire,5.30,59.50,40.30,2.50,21.60,80.20,1.50,112.60,10.60,35.80,6.00,0.05,0.50,4.00 New Jersey,17.50,795.10,176.30,187.20,109.40,469.70,25.00,312.60,0.10,28.40,35.90,0.50,22.20,0.20 New Mexico,197.10,259.60,92.30,7.20,30.80,107.80,0.00,0.00,1.40,6.30,8.30,0.50,8.60,33.30 New York,29.70,1335.10,330.10,201.20,98.70,635.30,40.00,434.80,248.20,76.50,46.60,1.20,10.60,36.40 North Carolina,381.80,540.20,190.90,14.90,81.50,531.00,0.50,447.50,40.80,110.20,36.70,1.00,33.40,0.10 North Dakota,394.60,105.80,84.80,5.60,27.40,49.60,0.00,0.00,17.70,2.60,3.80,1.00,0.05,75.40 Ohio,825.30,996.90,290.50,67.40,180.50,576.80,3.90,175.90,4.60,52.70,40.10,3.40,1.90,11.50 Oklahoma,221.80,738.40,175.00,52.60,83.30,222.40,2.60,0.00,23.80,31.00,15.50,0.05,0.10,185.30 Oregon,19.40,249.80,100.20,28.60,24.60,178.50,0.80,0.00,319.00,59.40,13.50,2.90,3.10,66.10 Pennsylvania,734.80,1363.80,327.30,69.20,188.70,556.60,3.50,867.30,21.90,104.70,39.80,2.20,4.10,32.10...
Go back to the Statehood sheet. Add a column E called Nicknames. Use a VLOOKUP() function...
Go back to the Statehood sheet. Add a column E called
Nicknames. Use a VLOOKUP() function to add the nicknames from the
nicknames sheet into column E of the statehood sheet. Please just
give the vlookup function to type in
State # nicknames State Delaware Pennsylvania New Jersey Georgia Connecticut Massachusetts Maryland South Carolina New Hampshire Virginia New York North Carolina Rhode Island Vermont Kentucky Tennessee Ohio Louisiana Indiana Mississippi Illinois Alabama Maine Missouri Arkansas Michigan Florida Texas lowa Wisconsin...
Go back to the Statehood sheet. Add a column E called Nicknames. Use a VLOOKUP() function to add the nicknames from the...
Go back to the Statehood sheet. Add a column E called Nicknames.
Use a VLOOKUP() function to add the nicknames from the nicknames
sheet into column E of the statehood sheet. plz just give me the
vlookup function to type in
State # nicknames State Delaware Pennsylvania New Jersey Georgia Connecticut Massachusetts Maryland South Carolina New Hampshire Virginia New York North Carolina Rhode Island Vermont Kentucky Tennessee Ohio Louisiana Indiana Mississippi Illinois Alabama Maine Missouri Arkansas Michigan Florida Texas lowa...
The homeownership rate in the US. was 61.4% in 2009, In order to determine if homeownership is li...
The homeownership rate in the US. was 61.4% in 2009, In order to determine if homeownership is linked with income, 2009 state-level data on the homeownership rate (Ownership in %) and median household income (income in $) were collected. A portion of the data is shown in the accompanying table State Alabama Alaska ownership Income 36,000 57,624 66.7 62.5 Wyoming 68.2 48,490 XC a-1. Estimate the model Ownership = β0 + β1Income + ε. (Negative values should be indicated by...
ys 70 eoni idence interval for μο 4. The following table contains the minimum wage and unemployment rates for a sample of eight states. State 2018 Unemployment | Minimum | Rate (96) Wage Alabama Arizona Arkansas S7 $11 $8 California $11 4 Colorado $10 Connecticut $10 $8 $13 Delaware DC 4 Graph unemployment and minimum wage, with unemployment on the vertical axis. Draw a line that best fits the points and label the intercept and slope. You can use your...
Only question 6 please, this is the model referred to in
Question 6 from 5.c
c) Estimate the linear model for a state's unemployment rate shown below (i.e. estimate Bo and β1) using OLS. Write the resulting regression equation. unemployment rate-β0 + β|minimum wage + ε 6. The following questions ask you to use the regression model you estimated to predict unemployment rates (ie, the model in 5.c). Use the unemployment and minimum wage data from the table above to...
Rate 3% 12% 14% 8% 9% 596 State Rate State 1090 | Kansas 11% Kentucky 13% Louisiana 1296 | Maine 8% Maryland 690 590 | Michigan 890 | Minnesota 996 | Mississippi 1196 | Missouri 1390 | Montana 1090 | Nebraska 996 | Nevada 996| New Hampshire 590 796 | New Jersey 1290 | South Dakota 996 | Tennessee Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa New Mexico New York North Carolina...
Go back to the Statehood sheet. Add a column E called
Nicknames. Use a VLOOKUP() function to add the nicknames from the
nicknames sheet into column E of the statehood sheet. Please just
give the vlookup function to type in
State # nicknames State Delaware Pennsylvania New Jersey Georgia Connecticut Massachusetts Maryland South Carolina New Hampshire Virginia New York North Carolina Rhode Island Vermont Kentucky Tennessee Ohio Louisiana Indiana Mississippi Illinois Alabama Maine Missouri Arkansas Michigan Florida Texas lowa Wisconsin...
Go back to the Statehood sheet. Add a column E called Nicknames.
Use a VLOOKUP() function to add the nicknames from the nicknames
sheet into column E of the statehood sheet. plz just give me the
vlookup function to type in
State # nicknames State Delaware Pennsylvania New Jersey Georgia Connecticut Massachusetts Maryland South Carolina New Hampshire Virginia New York North Carolina Rhode Island Vermont Kentucky Tennessee Ohio Louisiana Indiana Mississippi Illinois Alabama Maine Missouri Arkansas Michigan Florida Texas lowa...
The homeownership rate in the US. was 61.4% in 2009, In order to determine if homeownership is linked with income, 2009 state-level data on the homeownership rate (Ownership in %) and median household income (income in $) were collected. A portion of the data is shown in the accompanying table State Alabama Alaska ownership Income 36,000 57,624 66.7 62.5 Wyoming 68.2 48,490 XC a-1. Estimate the model Ownership = β0 + β1Income + ε. (Negative values should be indicated by...
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